Wayland Baptist University has dismissed longtime Chief Financial Officer James E. “Jim” Smith amid allegations of financial impropriety and has filed a civil lawsuit in state district court seeking more than $500,000 in damages.

Attempts by the Herald to contact Smith were unsuccessful Thursday. A call to the telephone number listed for his home residence yielded a recording that the line has been disconnected, and the case file in the district clerk’s office did not indicate whether Smith and his wife Barbara are represented by legal council.

According to a brief statement issued by Wayland Thursday morning, Smith was suspended on March 13 as the university was conducting an internal investigation into concerns of possible financial mismanagement. Smith was dismissed as Wayland’s CFO, and his employment terminated effective April 11, according to the statement.

Smith was named Wayland’s top financial official on Jan. 3, 2001.

On Wednesday, Wayland filed a civil lawsuit in Judge Rob Kinkaid’s 64th District Court against both Smith and his wife. The suit seeks actual damages, to be determined at trial, as well of exemplary damages of not less than $500,000.

“While the university’s internal investigation remains ongoing, sufficient grounds for Mr. Smith’s dismissal were reported to a specially appointed committee of the university’s board of trustees,” Thursday’s statement from Wayland read. “As a result of this report, Mr. Smith’s employment was terminated . . . for violations of university policy.”

A criminal investigation has been turned over to the Plainview Police Department. Police investigators reportedly were meeting with District Attorney Wally Hatch on Thursday afternoon concerning the case.

“With record enrollments and growth across the entire Wayland family, the university has been blessed in many ways,” the university’s statement reads. “The school’s future is strong, bright and filled with possibilities. Nevertheless, everyone affiliated with the university is deeply saddened by these events. Wayland covets the prayers and remembrance of its friends, supporters, faculty, staff and students. University officials also encourage prayers for the Jim Smith family.

“Because legal processes are in place and this remains an ongoing investigation, university officials will have no additional comments at this time.”

Wayland is being represented in the civil case by Plainview attorney Rudd Owen.

Wayland Executive Vice President Dr. Bobby Hall, in response to an emailed inquiry, wrote, “Lezlie Hukill, Wayland’s controller, was named interim CFO when Mr. Smith was suspended on March 13. She continues to serve in that capacity.”

An affidavit from Hall included in the case file on Wayland’s civil suit said the allegations of wrongdoing first surfaced during a summary project review following completion of the Jimmy Dean Hall and substantial completion of renovations to McClung University Center.

That review, Hall said in the affidavit, was done by Hukill and Bertha Sistrunk, general account manager, and revealed a number of questionable and improper payments, checks containing improper endorsements, requisitions without supporting documentation or that did not match requested amounts, and payments to credit card companies that do not have a business association with the university.

According to information in the case file, the questionable expenditures “will substantially exceed $40,000” and could date to at least January 2009.